Sumary: We are excited about the prospect of welcoming Othman, a renowned business coach and social media influencer, to our team. Othman's involvement would be instrumental in forging connections with a substantial number of small and medium-sized enterprises (SMEs). Given our objective to engage with at least 800 SMEs to reach our breakeven point, we are counting on Othman's expertise to attract over 1000 SME registrations. More importantly, his insights will be pivotal in converting at least 80% of these SMEs into active, paying clients. Additionally, Othman will play a crucial role as an advisor on our board.
In recognition of his valuable contribution, we propose an initial equity offering of 1%, with the potential to increase up to 3%. This equity stake holds significant promise; post breakeven and subsequent funding, the valuation of each percentage point of equity is estimated at $60,000. To align our long-term interests, we would implement a clause where Othman's shares are held for a minimum of three years post breakeven, or until we potentially become a publicly listed company, whichever occurs first. This strategy ensures both the growth of Platr and a fruitful partnership with Othman.
Meeting date: 21st December 2023
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Othman Abdulrasheed